Bookkeepers Yateley Hampshire (GU46): According to the 2006 Companies Act, if you run an online store, own a small business or are a sole trader in Yateley, you are entirely responsible for keeping accurate, "true and fair" financial and accounting records for a minimum of 6 years. You might be disqualified as a Company Director and receive thousands of pounds in fines, if you are unable to produce these records. There is a significant investment of time involved with compiling these financial records on your own behalf, and it can pay to employ a professional accountant or bookkeeping company, particularly if you consider that according to the trade magazine Accounting Today over 40% of small business owners spend at least eighty hours every year doing their bookkeeping.
If you are filled with panic just thinking about creating profit, loss and fiscal reports, filling out ledgers, tracking liabilities and assets or compiling balance sheets, then the time to get in touch with a bookkeeper in Yateley for guidance and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
A common query that is asked by a lot of business owners in Yateley is "Precisely what is the difference between a bookkeeper and an accountant?" While in past times many accountants considered the bookkeeping process to be beneath their experience, skill-sets and qualifications, a lot of accountancy companies in the Yateley area will now undertake the task of bookkeeping, due to software improvements over the past ten years. It's currently common practice for accountancy firms to have a set rate for bookkeeping services commensurate with a dedicated bookkeeper's fee. Since it provides a wider variety of competition within the marketplace, this is excellent news for small business owners in Yateley, making the cost of their bookkeeping much more affordable than it previously was.
When you are considering the differences between an accountant and a bookkeeper, the most notable one is the level of qualification and training that's necessary for each discipline. Usually holding a degree in accounting, a professional accountant will also have had training in tax preparation and further qualifications in business and fiscal management. Whilst probably not having this level of experience and training, or holding the same financial qualifications, a bookkeeper in Yateley will undoubtedly have a decent understanding of all these skills.
RESPONSIBILITIES OF A BOOKKEEPER
Essentially, the act of bookkeeping is to record the daily fiscal transactions of any enterprise or business in Yateley. This will likely include, but is by no means limited to;
- Documenting invoices received and making certain that payment is completed by the due date.
- Monthly reconciliation and reports.
- VAT recording and submissions.
- Payroll services.
- The billing of customers for work completed or goods.
- Ensuring double-entry bookkeeping and accounting practices are followed.
- Logging of all financial incomings; cash, card and electronic payments included.
- Highlighting and rectifying any discrepancies in financial accounts.
Subject to service level you require, a professional bookkeeper may only be needed to periodically double-check your records, if you're prepared to do a large majority of your own bookkeeping work. This ought to be done each month as a bare minimum, since this allows for any problems or mistakes to be discovered and rectified promptly. As long as you are able to stay in control of your monetary transactions without affecting your daily business activities, this solution can be an extremely economical trade-off.
There is a fair chance that if you're considering hiring a bookkeeping company, you're currently having problems with the financial recording side of your business in Yateley. A professional bookkeeper will be able to help you to link your business accounts with the most suitable software to enable the seamless arrangement of transactional data, and will offer advice and guidance on stuff like stocktaking, invoicing and producing expense reports.
The ability to reconcile cash flow with accounts payable, is an extremely crucial aspect of effective bookkeeping. This means that rather than waiting on an overdue notice, which many small businesses are guilty of doing, or paying an outstanding bill right away, your bookkeeper will arrange bill payments to a time when your finances are buoyant and in good order. This does not just keep your enterprise or business on a good financial footing, but keeps you in the good books of suppliers and the businesses who provide you with services. This is just one of those juggling acts that can be tricky to perform when you are mostly focussed on the streamlined running of your day to day business operations.
If you're a sole trader, or own a small business, using a qualified bookkeeper in Yateley, also gives them the chance to cast an eagle eye over the running of your business. It might be that business patterns and trends that you might have disregarded could therefore be pinpointed. It is not at all unheard of for a clever bookkeeper to flag up an area which is plummeting in profits, or spot a brand new opportunity which could be worth investigating. It is crucial for the growth of any business enterprise in Yateley, to spot these key performance indicators.
It can often be quite humiliating to pursue a late payment if your company sends out invoices. By having an independent person outside your business bubble visit your customer or make that telephone call, some of that awkwardness can be removed. There are legal procedures a bookkeeper can make use of, if you're troubled with a persistent late or non-payer, and these can help to clear up the issue before the matter winds up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some pretty basic bookkeeping requirements for sole traders, that are laid out by law. Essentially, sole traders should keep all receipts and invoices, and track income and expenditure from month to month. It's still recommended that you retain the expertise of a bookkeeping company, although this may sound simple enough. When preparing your tax returns, a professional sole trader bookkeeper in Yateley will be in a position to advise you on what your valid business expenses are, and make sure these are claimed back from HMRC each year. This may include bills and rent if working from home, promotional advertising, consumables, items such as computers and stationery. Chat to a trusted bookkeeper for more detailed advice and see how they might help your small business to grow.
BOOKKEEPING FOR ONLINE TRADERS IN YATELEY
There are certain niches in bookkeeping where the skills of a specialist could be needed. If multi-currency processing, online payment procedures, exchange rate transfers and cross-border and international taxes are involved, for example if you run a store online, you'll be wise to hire a bookkeeper in Yateley who understands these practices. Managing your stock on a 24/7 basis is also a huge concern, if that same outlet distributes goods that you produce or hold, as I'm sure you will be aware the internet never sleeps, therefore neither should your bookkeeping software or services.
In combination with bookkeeping services, a virtual office can also be supplied. Providing a physical connection to their buyers, this allows a sole trader or online only business to have a telephone service and postal address. Although this option might not be offered by all bookkeeping businesses in Yateley, it's definitely worth a discussion if this service is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the field of bookkeeping are at Diploma or Certificate level, and a professional Yateley bookkeeper need not hold a degree. Qualifications can be obtained via further education colleges and universities but there are also an ever-increasing variety of courses offered online.
Bookkeepers are represented by two primary training and certification organisations:
The AAT or Association of Accounting Technicians: Able to use the letters AATQB, a certified member of the Association of Accounting Technicians (AAT) will have undergone advanced qualifications and a training schedule in bookkeeping. This then allows them to become a registered AAT bookkeeper and assures a high level of service which is backed up by the association. To safeguard the trustworthiness of the AAT membership, a bookkeeper who's affiliated with the AAT can be subject to disciplinary and tribunal procedures if they have a complaint against them or are found to have breached the code of practice.
The Institute of Certified Bookkeepers (ICB): The largest organisation of its kind in the world is the the Institute of Certified Bookkeepers or ICB, and it provides accreditation to certified bookkeepers, in addition to reference material and training to ensure their members are up-to-speed with the latest trends and developments.
By going to their respective websites, it's possible to check the register of AAT or ICB members, to find the qualifications of any bookkeeper in Yateley. It is recommended that you carry out this check, before employing any bookkeeper in Yateley.
Bookkeeping services are available for people living in in Yateley and also in nearby places like: Eversley Cross, Frogmore, Eversley, Cricket Hill, Fox Lane, Hartfordbridge, Minley, Minley Manor, Cove, West Heath, Darby Green, Hazeley Heath, and in these postcodes GU46 6NU, GU46 6HP, GU46 6GT, GU46 6PF, GU46 6EP, GU46 6HA, GU46 6FB, GU46 6PT, GU46 6NT, GU46 6FG. Local Yateley Bookkeepers will likely have the postcode GU46 and the telephone dialling code 01252. Checking this will ensure you access locally based bookkeepers. Yateley sole traders and business owners will be able to benefit from these and lots of other similar services.
Financial statement preparation.
Yateley Bookkeeper Tasks
Most bookkeepers in Yateley will be able to provide you with the following services: bookkeeping for home-based businesses, bookkeeping for shops in Yateley, independent bookkeeping services, Sage bookkeeping services, payroll bookkeeping, personal tax returns, general bookkeeping services, bookkeeping services for pubs, Self-Assessment tax returns in Yateley, bookkeeping price quotes, small business bookkeeping, bookkeeping services for sole traders, VAT returns Yateley, management accounts in Yateley, bookkeeping for tradesmen Yateley, small business tax returns, off-site bookkeeping, bookkeeping services for startups in Yateley, Quickbook bookkeeping services, double-entry bookkeeping, corporation tax returns, management reports, charity bookkeeping Yateley, bookkeeping for organisations, bank reconciliations, mobile bookkeeping services, Kashflow bookkeeping services, accounting and bookkeeping, cheap bookkeeping services Yateley, bookkeeping services, and more. These are just a small portion of the tasks that are undertaken by local bookkeepers. Yateley companies will be delighted to keep you abreast of their entire range of services. If there happen to be additional Yateley bookkeeper requirements that you want but don't see here, you can easily list them on the QUOTE FORM provided. We'll get back to you with information as soon as we can.
Bookkeepers Near Yateley
Also find: Hartfordbridge bookkeepers, West Heath bookkeepers, Eversley Cross bookkeepers, Minley bookkeepers, Cricket Hill bookkeepers, Darby Green bookkeepers, Minley Manor bookkeepers, Fox Lane bookkeepers, Frogmore bookkeepers, Eversley bookkeepers, Hazeley Heath bookkeepers, Cove bookkeeper and more. The majority of these places are catered for by local bookeepers. Yateley people can get fees for bookkeeping services by going here.
Bookkeeping Services Yateley
- Sole Trader Bookkeeping
- VAT Returns
- Credit Control
- Profit and Loss Reports
- Bookkeeping Quotes
- Payroll Services
- Cash Flow Management
- Double-Entry Bookkeeping
- Self-Assessment Bookkeeping
- Bookkeeping Services
- Tax Preparation
- Cheap Bookkeeping
- Self-Assessment Returns
- PAYE and Wages
Bookkeeping Jobs Yateley: See bookkeeping jobs in Yateley by clicking here: Bookkeeping Jobs Yateley
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Bookkeepers in GU46 area, phone code 01252.
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